Bitcoin Price Prediction – October 1
The Bitcoin price prediction shows that BTC revisits the resistance level of $48,000 as it targets a $52,000 high around the upper boundary of the channel.
BTC/USD Long-term Trend: Ranging (Daily Chart)
Resistance Levels: $52,000, $54,000, $56,000
Support Levels: $40,000, $43,000, $41,000
BTC/USD is currently recovering higher from the $43,287 support zone and the first digital asset must stay above the 9-day and 21-day moving averages to start another increase. As of the time of this writing, the Bitcoin price still sits above $47,000 as a near $50,000 peak was seen with this recent rally during the European session today but currently retreating as the market prepares for another trading day.
Bitcoin Price Prediction: Would BTC Gain More?
According to the daily chart, traders could see that the Bitcoin price converges above the key level of $48,000. The 9-day MA trend-line is likely to cross above the moving average as they prepare to create more upsides. The technical indicator Relative Strength Index (14) moves toward 60-level in an attempt to probably cross into the upside. However, the first major resistance is near the $50,000 level while the main resistance is still near the $51,000 level.
Moreover, a clear break above these levels could set the pace for a larger increase to $52,000, $54,000, and $56,000 resistance levels. Meanwhile, should the Bitcoin price fail to clear the $50,000 resistance, it could start a new decline as the initial support on the downside is near the $45,000 level. If there is a downside break below this level, the price could see a sharp decline towards the support levels of $40,000, $38,000, and $36,000 respectively.
BTC/USD Medium – Term Trend: Bullish (4H Chart)
According to the 4-hour chart, BTC/USD looks bullish as the market continues to show a sign of a bullish trend since the daily opening. However, the intraday trading is still looking bullish; following the recent rebound at $46,934 which is now a key support level. Meanwhile, any bearish movement below the 9-day moving average could locate critical support at $45,000 and below.
However, considering the recent sharp rebound, the Bitcoin price may continue the bullish rally to $50,000 resistance. A climb above the upper boundary of the channel may further push the BTC price to the resistance level of $50,000 and above. As it appeared now, it seems the bears may likely return to the market as the Relative Strength Index (14) could move below 70-level, suggesting a bearish movement.
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Bitcoin Value Prediction – October 1
The Bitcoin worth prediction exhibits that BTC revisits the resistance degree of $48,000 because it targets a $52,000 excessive across the higher boundary of the channel.
BTC/USD Lengthy-term Pattern: Ranging (Day by day Chart)
Resistance Ranges: $52,000, $54,000, $56,000
Assist Ranges: $40,000, $43,000, $41,000
BTC/USD is presently recovering larger from the $43,287 assist zone and the primary digital asset should keep above the 9-day and 21-day shifting averages to begin one other enhance. As of the time of this writing, the Bitcoin worth nonetheless sits above $47,000 as a close to $50,000 peak was seen with this current rally in the course of the European session as we speak however presently retreating because the market prepares for an additional buying and selling day.
Bitcoin Value Prediction: Would BTC Achieve Extra?
In keeping with the every day chart, merchants might see that the Bitcoin worth converges above the important thing degree of $48,000. The 9-day MA trend-line is more likely to cross above the shifting common as they put together to create extra upsides. The technical indicator Relative Energy Index (14) strikes towards 60-level in an try to most likely cross into the upside. Nevertheless, the primary main resistance is close to the $50,000 degree whereas the principle resistance remains to be close to the $51,000 degree.
Furthermore, a transparent break above these ranges might set the tempo for a bigger enhance to $52,000, $54,000, and $56,000 resistance ranges. In the meantime, ought to the Bitcoin worth fail to clear the $50,000 resistance, it might begin a brand new decline because the preliminary assist on the draw back is close to the $45,000 degree. If there’s a draw back break beneath this degree, the value might see a pointy decline in direction of the assist ranges of $40,000, $38,000, and $36,000 respectively.
BTC/USD Medium – Time period Pattern: Bullish (4H Chart)
In keeping with the 4-hour chart, BTC/USD appears bullish because the market continues to point out an indication of a bullish pattern for the reason that every day opening. Nevertheless, the intraday buying and selling remains to be trying bullish; following the current rebound at $46,934 which is now a key assist degree. In the meantime, any bearish motion beneath the 9-day shifting common might find important assist at $45,000 and beneath.
Nevertheless, contemplating the current sharp rebound, the Bitcoin worth might proceed the bullish rally to $50,000 resistance. A climb above the higher boundary of the channel might additional push the BTC worth to the resistance degree of $50,000 and above. Because it appeared now, it appears the bears might doubtless return to the market because the Relative Energy Index (14) might transfer beneath 70-level, suggesting a bearish motion.
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